Recent finance literature highlights the role of technological change in increasing firm specific (idiosyncratic) and aggregate stock return volatility, yet innovation data is not used in these analyses, leaving the direct relationship between innovation and stock return volatility untested. The...

Recent studies find that idiosyncratic risk (IR)—the degree to which firm-specific returns are more volatile than aggregate market returns—has increased since the 1960s and attribute this to economy-wide factors such as the role of the IT revolution. Yet no innovation data is used in these...

[fre] Cet article propose que les micro et macro économistes s'intéressant à la dynamique de la création destructrice gagneraient en pertinence en utilisant des indices rendant compte de l'effet de l'innovation sur la position « relative » des firmes. Ceci est dû à l'effet (souvent)...

This paper introduces the theoretical foundations and the structure of a macroeconometric model for the analysis of compensation schemes. After a brief explanation of the main relationships between technical change and employment, the general structure of the model is outlined with reference to...